#debtfreecommunity discussion
Book Club: The Compound Effect
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Week 1: Introduction, Chapters 1 & 2
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Wow - so far I am really enjoying this book. I honestly wish I had my hands on it a year ago as it certainly has me thinking about the job I recently left. Sparing all the details here - I saw the 'compound effect' at work there - but in the opposite direction - pulling me down into a overwhelmed, negative space, compounding and slipping into something I *felt* I could no longer handle. In the end I left a job I had poured 12 years of my life into! With these ideals I really think I may could have turned things around and gotten control of the situation for the better. But alas, thats in the past so - it is what it is and I can only learn from that experience now! Anyway - this book has some great tips so far and my favorite one is the idea of tracking things! We already do this by doing a zero based budget and it gives such a sense of control over our finances. I am so on board with tracking other things in my life now that he explains this and it makes complete sense! I also meal plan and keep them in a google sheet - it gives me a plan and a resource for the future as well. That alone has relieved stress about what to feed my family. I'm going to start tracking some other habits as well. Water intake, physical activity, improving my resume, etc. I hope to track more as well. It's going to be motivating I can tell!
Lastly, I would say that is the item I am going to start doing right now to take back full responsibility - to track all the areas of my life that need improvement, stability, or motivation! :) Anxious to keep reading.
Mod
Yes!! I really loved the example he gave of small changes in a positive direction, small changes in a negative direction, and no change. I have seen the small changes in a negative direction example many times in real life, too.
I loved what he said about tracking too. I started doing this on my own a little over a year ago and saw huge changes in my life. It's become just a part of my everyday life now, and I view it as "a budget" for my time - making sure that what I'm putting my time to is aligned with my goals, just like making sure that what we're putting our money to is aligned with our financial goals.
One other thing I loved was his outline for how to get lucky. Preparation, attitude, opportunity, and action... most of the things are within our control. Sometimes I need that reminder :)
Morgan wrote: "Elizabeth wrote: "Wow - so far I am really enjoying this book. I honestly wish I had my hands on it a year ago as it certainly has me thinking about the job I recently left. Sparing all the details..."YES Morgan - 'a budget for my time' - exactly!! I finished the book and will work on writing down and outlining some am/pm routines for me as well as deciding what to track. I started with things on my fitbit bc EASY haha - water intake and steps per day with a daily goal. doing a morning devotional has always been a somewhat routine of mine and now i started writing down what passage I read! since starting a log of what i read, i haven't missed a day yet! The ONLY thing i'm doing differently is writing down what I read. For some reason it really motivates me and i stick with it moreso! Before I did devotion probably 4 mornings a week, and now 7 easily. Anxious to expand this to other areas of my life.
What are some small, seemingly inconsequential steps you can take every day that can take your life in a completely new and positive direction?
What are some small, seemingly inconsequential actions you can stop doing that might be compounding your results downward?
What are some areas, skills, or outcomes that you have been most successful with in the past? Are you taking any of those areas for granted? Could you be improving on them in order to avoid future failure?
Have you seen the “microwave mentality” backfire in your own life? If so, what areas do you tend to hope for quick change?
We’ve all likely heard quite a bit about the compound effect as it pertains to financial investments. Have you previously thought about applying this idea to other areas of your life?
“It’s the little things in life that will bite you.” How have you experienced this in your own life? What are the little things that add up? What are the little things you’d like to see change?
How does owning your choices and reactions 100% empower you?
Have you ever thought you - or someone else - are either lucky or unlucky?
What is one habit you can start tracking for one week?
Do you already have a routine of tracking habits? If so, what do you track? How do you track them?
Time is of the essence: Have you ever put off starting new habits? What is holding you back? On the other hand, have you ever just jumped into a new habit? How did that affect you?
What area, person, or circumstance in your life do you struggle with the most? How can gratitude help you with this?
Where in your life are you not taking 100% responsibility for the successes or failures of your present condition? What are some things you can start doing right now to take back responsibility for the outcomes of your life?